Taxability of Reimbursement Sample Clauses

Taxability of Reimbursement. Certain reimbursements for Qualified moving expenses are excluded from income as Qualified fringe benefits under IRS Section 217. Non- Qualified reimbursed expenses are wages subject to withholding and payroll taxes. Expenses listed under g. (below) have been classified as Qualified moving expenses (not reportable) or as Non-Qualified (reportable and subject to withholding) expenses. Although Qualified moving expenses that are reimbursed to the employee are not reportable as income on the employee’s W-2, they must be reported in box 12 on the employee’s W-2. Qualified moving expenses paid directly to a third party (mover) no longer need to be reported on the employee’s W-2.
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Taxability of Reimbursement. Certain reimbursements for Qualified moving expenses are excluded from income as Qualified fringe benefits under IRS Section 132. Non-Qualified reimbursed expenses are wages subject to withholding and payroll taxes. Expenses listed under c. (below) have been classified as either Qualified moving expenses (not reportable) or as Non-Qualified (reportable and subject to withholding) expenses. Although Qualified moving expenses are not reportable as income, they must be reported on the employee’s W-2.
Sample 1

Related to Taxability of Reimbursement

  • Sharing of Reimbursement Obligation Payments Whenever the Agent receives a payment from the Borrower on account of reimbursement obligations in respect of a Letter of Credit or Credit Support as to which the Agent has previously received for the account of the Letter of Credit Issuer thereof payment from a Lender, the Agent shall promptly pay to such Lender such Lender’s Pro Rata Share of such payment from the Borrower. Each such payment shall be made by the Agent on the next Settlement Date.